Smart Transformers Market by Component, Type, Application, and Region - Global Forecast to 2022

  • ID: 4416249
  • Report
  • Region: Global
  • 143 Pages
  • Markets and Markets
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Smart Transformers Market worth 2.43 Billion USD by 2022

FEATURED COMPANIES

  • ABB
  • CG Power
  • GE
  • Howard Industries
  • Schneider Electric
  • Spx Transformer
  • MORE

"Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022"

“The smart transformers market is projected to grow at a CAGR of 10.54%, from 2017 to 2022”

The global smart transformers market is valued at USD 1.47 billion in 2017, and is expected to grow at a CAGR of 10.54%, from 2017 to 2022. The global market is set to a witness significant growth due to increasing emphasis on alternative energy production across the globe, digitalization of power utilities, and huge investments in smart grids and energy systems. Although some cost bearing constraints in the installation of smart transformers are being observed, emerging economies are expected to create better opportunities for the smart transformers market. Low acceptance level among end-users is expected to be a major challenge for the smart transformers market.

“The smart grid segment is expected to have the largest market share by 2022”

With regard to the end-use application segment, the smart grid segment is expected to constitute the largest market by 2022. One of the biggest uses of a smart transformer in smart grids is its role in integrating power from distributed generation into the main grid. Smart grids have two-way communication for real-time monitoring and controlling of network characteristics. For this, the basic step is the implementation of smart meters for end-user interactions, followed by employing smart transformers in the network to further strengthen communications and avoid power outages. Although smart grids prevent faults and power outages, they are also equipped with self-realization characteristic that allows the network to restore to normal, once the fault is cleared. Due to its application at various end-user points in the smart grid infrastructure, the segment is expected to dominate the market by 2022.

“Asia Pacific: The fastest growing market for smart transformers”

The smart transformers market is projected to grow faster in the Asia Pacific region, especially in China, Japan, and South Korea. The Asia Pacific region is moving toward clean energy on a large scale to meet its growing energy needs in an efficient way. India, China, and Singapore are some of the potential growing markets in the power and utilities sector. Asia Pacific also offered the biggest potential gains for foreign direct investment and attracted 45% of all the capital investment, globally, in 2015. Increased investments in modernizing infrastructure and urbanizing populations, especially in developing economies, such as China and India, is expected to drive the smart transformers market in Asia Pacific. The Chinese market was, by far, the largest in the world in terms of infrastructure development in 2015. A rise in investments in smart grid technologies and smart cities that include distribution grid automation, smart meters, and demand response systems in countries, such as Japan, South Korea, and Australia would create opportunities for the smart transformers market.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1- 43%, Tier 2- 33%, Tier 3- 24%
  • By Designation: C-Level- 35%, Director Level- 25%, Others- 40%
  • By Region: North America- 30%, Asia Pacific- 25%, Europe- 20%, Middle East & Africa- 15%, and South America- 5%

Note: Others includes sales managers, product managers, and design engineers

The tier of the company has been defined on the basis of its total revenue, as of 2013: Tier 1 = > USD 1 billion, Tier 2 = From USD 1 billion to USD 500 million, and Tier 3 = < USD 500 million

Some of the prominent players in the smart transformers market include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), and General Electric (US).

Research Coverage:

The report defines, describes, and forecasts the global smart transformers market by component, type, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market.

Why buy this report?

  • The report identifies and addresses key markets for smart transformers, which would help suppliers review the growth in the demand for the product.
  • The report helps solution providers understand the pulse of the market and provides insights into drivers, restraints, and challenges.
  • The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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FEATURED COMPANIES

  • ABB
  • CG Power
  • GE
  • Howard Industries
  • Schneider Electric
  • Spx Transformer
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Smart Transformers Market, 2017-2022
4.2 Smart Transformers Market, By Region, 2016
4.3 Smart Transformers Market, By Type, 2017 & 2022
4.4 Smart Transformers Market, By Application, 2017 & 2022
4.5 Asia Pacific Smart Transformers Market Size, By Type & By Country

5 Market Overview
5.1 Introduction
5.2 Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Emphasis of Alternate Energy Production Across the Globe
5.3.1.2 Digitalization of Power Utilities
5.3.1.3 Huge Investments in Smart Grids and Energy Systems
5.3.2 Restraints
5.3.2.1 High Initial Cost Incurred in the Installation of Smart Transformers
5.3.3 Opportunities
5.3.3.1 Growth of the Electric Vehicle Market and the Allied Infrastructure
5.3.4 Challenges
5.3.4.1 Lack of Data for Effective Planning
5.3.4.2 Cyber Security & Data Privacy

6 Smart Transformers Market, By Type
6.1 Introduction
6.2 Power Transformers
6.3 Distribution Transformers
6.4 Specialty Transformers
6.5 Instrument Transformers

7 Smart Transformers Market, By Component
7.1 Introduction
7.2 Converters
7.2.1 AC to DC Converters
7.2.2 DC to AC Converters
7.2.3 DC to DC Converters
7.2.4 AC to AC Converters
7.3 Switches
7.3.1 SIC Power Mosfets
7.3.2 Power Diodes
7.3.3 Insulated Gate Bipolar Transistors (IGBTS)
7.3.4 SIC Power Thyristors
7.4 Transformers
7.5 Hardware for Transformer Monitoring
7.6 Others
7.6.1 High Voltage Inductors
7.6.2 High Voltage Capacitors
7.6.3 High Voltage Resistors

8 Smart Transformers Market, By Application
8.1 Introduction
8.2 Traction Locomotive
8.3 Smart Grid
8.4 Electric Vehicle Charging
8.5 Others

9 Smart Transformers Market, By Region
9.1 Introduction
9.2 North American
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 France
9.3.4 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 Australia
9.4.6 Rest of Asia Pacific
9.5 Middle East
9.6 South America
9.7 Africa

10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking, Smart Transformers Market, 2016
10.3 Competitive Situation & Trends

11 Company Profiles
(Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, MnM View)*
11.1 ABB
11.2 Siemens
11.3 Schneider Electric
11.4 Eaton
11.5 GE
11.6 Wilson Transformer
11.7 Mitsubishi Electric
11.8 Bhel
11.9 CG Power
11.10 Gridco
11.11 Howard Industries
11.12 SPX Transformer

*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store
12.4 Introducing RT: Real Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details

List of Tables:
Table 1 Smart Transformer vs Traditional Transformer
Table 2 Smart Transformers Market Snapshot
Table 3 Comparison Between Conventional & Smart Grids
Table 4 Challenges for Transformer Owners/Operators
Table 5 Key Smart Grid Investment Initiatives
Table 6 Moving Toward Smart Power Distribution
Table 7 Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 8 Power Transformers: Smart Transformers Market Size, By Region, 2015-2022 (USD Million)
Table 9 Distribution Transformers: Smart Transformers Market Size, By Region, 2015-2022 (USD Million)
Table 10 Specialty Transformers: Smart Transformers Market Size, By Region, 2015-2022 (USD Million)
Table 11 Instrument Transformers: Smart Transformers Market Size, By Region, 2015-2022 (USD Million)
Table 12 Smart Transformers Market Size, By Component, 2015-2022 (USD Million)
Table 13 Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 14 Traction Locomotive: Smart Transformers Market Size, By Region, 2015-2022 (USD Million)
Table 15 Smart Grid: Smart Transformers Market Size, By Region, 2015-2022 (USD Million)
Table 16 Smart Grid: Smart Transformers Market Size, By Country (Top 5 Countries), 2015-2022 (USD Million)
Table 17 Electric Vehicle Charging: Smart Transformers Market Size, By Region, 2015-2022 (USD Million)
Table 18 Others: Smart Transformers Market Size, By Region, 2015-2022 (USD Million)
Table 19 Smart Transformers Market Size, By Region, 2015-2022 (USD Million)
Table 20 Smart Transformers Market Size, By Country (Top 5 Countries), 2015-2022 (USD Million)
Table 21 North America: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 22 North America: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 23 North America: Smart Transformers Market Size, By Country, 2015-2022 (USD Million)
Table 24 US: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 25 US: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 26 Canada: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 27 Canada: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 28 Mexico: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 29 Mexico: Smart Transformers Market Size, By Application, 2015-2022 (USD Thousand)
Table 30 Europe: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 31 Europe: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 32 Europe: Smart Transformers Market Size, By Country, 2015-2022 (USD Million)
Table 33 Germany: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 34 Germany: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 35 UK: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 36 UK: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 37 France: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 38 France: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 39 Rest of Europe: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 40 Rest of Europe: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 41 Asia Pacific: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 42 Asia Pacific: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 43 Asia Pacific: Smart Transformers Market Size, By Country, 2015-2022 (USD Million)
Table 44 China: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 45 China: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 46 India: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 47 India: Smart Transformers Market Size, By Application, 2015-2022 (USD Thousand)
Table 48 Japan: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 49 Japan: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 50 South Korea: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 51 South Korea: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 52 Australia: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 53 Australia: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 54 Rest of Asia Pacific: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 55 Rest of Asia Pacific: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 56 Middle East: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 57 Middle East: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 58 Middle East: Smart Transformers Market Size, By Country, 2015-2022 (USD Million)
Table 59 Rest of the Middle East: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 60 Rest of the Middle East: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 61 South America: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 62 South America: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 63 South America: Smart Transformers Market Size, By Country, 2015-2022 (USD Million)
Table 64 Africa: Smart Transformers Market Size, By Type, 2015-2022 (USD Million)
Table 65 Africa: Smart Transformers Market Size, By Application, 2015-2022 (USD Million)
Table 66 Africa: Smart Transformers Market Size, By Country, 2015-2022 (USD Million)

List of Figures:
Figure 1 Smart Transformer: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation Methodology
Figure 5 Assumptions of the Research Study
Figure 6 Asia Pacific Held the Largest Market Size By Value in the Smart Transformers Market in 2016
Figure 7 The Distribution Transformer is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 8 The Smart Grid Segment is Expected to Dominate the Smart Transformers Market During the Forecast Period
Figure 9 The Converters Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 10 Digitalization of Power Utilities is Expected to Drive the Smart Transformers Market During the Forecast Period
Figure 11 The Asia Pacific Market Held the Largest Share in 2016
Figure 12 The Distribution Transformer Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 13 The Smart Grid is Expected to Lead the Smart Transformers Market During the Forecast Period
Figure 14 The Distribution Transformer, By Type & China, By Country, Held the Maximum Share in the Asian Smart Transformers Market in 2016
Figure 15 Digitalization of Power Utilities is Expected to Drive the Smart Transformers Market During the Forecast Period
Figure 16 Total Renewable Energy Capacity
Figure 17 Smart Distribution Transformers Segment is Expected to Hold the Largest Market Size By 2022
Figure 18 Transformers Segment is Expected to Account for the Largest Market Size By 2022
Figure 19 Smart Grid Application is Expected to Hold the Largest Market Size By 2022
Figure 20 Regional Snapshot: the Market in Asia Pacific is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Smart Transformers Market Size (Value), By Region, 2016
Figure 22 North America: Smart Transformers Market Snapshot
Figure 23 Asia Pacific: Smart Transformers Market Snapshot
Figure 24 Companies Adopted Contracts & Agreements to Capture A Share of the Market, 2014-2017
Figure 25 Market Ranking, Smart Transformers Market, 2016
Figure 26 Battle for Market Share: Contracts & Agreements Was the Key Strategy, 2014-2017
Figure 27 Market Evaluation Framework: New Product Launches, Mergers & Acquisitions, Partnerships, Contracts & Agreements, & Others Fueled the Growth of the Companies From 2014-2017
Figure 28 ABB: Company Snapshot
Figure 29 Siemens : Company Snapshot
Figure 30 Schneider Electric : Company Snapshot
Figure 31 Eaton : Company Snapshot
Figure 32 GE: Company Snapshot
Figure 33 Mitsubishi Electric : Company Snapshot
Figure 34 Bhel: Company Snapshot
Figure 35 CG Power : Company Snapshot

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • ABB
  • CG Power
  • GE
  • Howard Industries
  • Schneider Electric
  • Spx Transformer
  • MORE

The global smart transformers market is projected to grow at a CAGR of 10.54%, from 2017 to 2022, to reach a market size of USD 2.43 Billion by 2022. This growth can be attributed to the increasing power demand, increasing emphasis on alternative energy production across the globe, improving and evolving technologies, digitalization of power utilities, investments in smart grids and energy systems, and revamping of old T&D infrastructure.

The report segments the smart transformers market, by application, into traction locomotive, smart grid, electric vehicle charging, and others (others includes applications in research, shipping and aviation and packaged substations, data centers and alternative power generation). The smart grid segment is expected to grow at the highest CAGR during the forecast period. The smart grid has two-way communication for real-time monitoring and controlling of network characteristics. For this, the basic step is the implementation of smart meters for end-user interactions, followed by employing smart transformers in the network to further strengthen communications and avoid power outages. Smart grids prevent faults and power outages. They are also equipped with self-realization characteristic that allows the network to restore to normal once the fault is cleared.

The smart transformers market, by type, is segmented into power transformers, distribution transformers, specialty transformers, and instrument transformers. The distribution transformers segment is estimated to be the fastest growing smart transformer, in 2017. A distribution transformer is essential for proper load management, resulting in better power quality and less power outages.

The smart transformers market, by component, is segmented into converters, switches, transformers, hardware for transformer monitoring, and others (others include high voltage inductors, high voltage capacitors, and high voltage resistors). The converters segment is estimated to be the fastest growing smart transformer, in 2017. Converters can be both AC and DC types and provide the output in either form of current as per the requirement of the output stage.

In this report, the smart transformers market has been analyzed with respect to six regions, namely, North America, Europe, Asia Pacific, South America, the Middle East, and Africa.

The market in Asia Pacific is estimated to be the fastest growing smart transformers market, from 2017 to 2022. Factors, such as increased power consumption, government initiatives to increase power generation capacity using renewable energy sources, and replacement of aging power plants are to drive the smart transformers market in the region. The market in China is expected to be the fastest growing smart transformers market during the forecast period. With the increase in consumption of electric power, the demand for smart transformers is largely driven by smart grid applications. In November 2014, China set a target to increase its total energy generation from zero emission sources (solar and wind) to 20% by 2030 based on the China?US Joint Announcement on Climate Change and Clean Energy Cooperation, consequently boosting the demand for the smart transformers market.

North America is expected to be the second highest smart transformers market during the forecast period. The region is making huge investments to modernize the electric grid, strengthen cybersecurity, and improve interoperability, thereby, raising the demand for smart transformers. The smart transformers market in North America is competitive with players such as GE, Gridco, Howard Industries, and SPX Transformers headquartered in the region.

Access to affordable capital, cyber security and data privacy, and high initial cost incurred in the installation of smart transformers could act as restraints for the smart transformers market, leading to a decline in profits. The players in the smart transformers market provide services to developing and underdeveloped nations where the infrastructure is aging. The leading players in the smart transformers market include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Eaton (Ireland), and General Electric (US). Contracts & agreements was the most commonly adopted strategy by the top players. This was followed by new product launches, expansions and investments, and mergers & acquisitions.

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  • ABB
  • BHEL
  • CG Power
  • Eaton
  • GE
  • Gridco
  • Howard Industries
  • Mitsubishi Electric
  • Schneider Electric
  • Siemens
  • Spx Transformer
  • Wilson Transformer
Note: Product cover images may vary from those shown
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